Fortinet (NASDAQ:FTNT) COO John Whittle Sells 146,015 Shares of Stock

Fortinet, Inc. (NASDAQ:FTNT) COO John Whittle sold 146,015 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $128.41, for a total transaction of $18,749,786.15. Following the completion of the sale, the chief operating officer directly owned 94,724 shares of the company’s stock, valued at $12,163,508.84. The trade was a 60.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Fortinet Price Performance

Shares of FTNT opened at $133.93 on Friday. The company has a 50 day moving average price of $92.07 and a 200-day moving average price of $84.92. Fortinet, Inc. has a fifty-two week low of $70.12 and a fifty-two week high of $134.19. The stock has a market capitalization of $98.12 billion, a PE ratio of 51.71, a PEG ratio of 3.56 and a beta of 0.92. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.07 and a current ratio of 1.15.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.20. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The firm had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter in the prior year, the company earned $0.58 EPS. The company’s revenue was up 20.1% compared to the same quarter last year. Fortinet has set its Q2 2026 guidance at 0.720-0.760 EPS and its FY 2026 guidance at 3.100-3.160 EPS. Equities analysts predict that Fortinet, Inc. will post 2.77 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Pinnacle Holdings LLC bought a new position in shares of Fortinet during the 3rd quarter worth approximately $25,000. Ameriflex Group Inc. acquired a new position in Fortinet during the 3rd quarter valued at approximately $25,000. Physician Wealth Advisors Inc. increased its stake in Fortinet by 408.3% during the 1st quarter. Physician Wealth Advisors Inc. now owns 305 shares of the software maker’s stock valued at $25,000 after purchasing an additional 245 shares in the last quarter. Wexford Capital LP acquired a new position in Fortinet during the 3rd quarter valued at approximately $25,000. Finally, Elyxium Wealth LLC acquired a new position in Fortinet during the 4th quarter valued at approximately $27,000. Institutional investors own 83.71% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on FTNT. Wedbush reaffirmed an “outperform” rating and issued a $90.00 price target on shares of Fortinet in a research report on Friday, February 6th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $87.00 price target on shares of Fortinet in a research report on Tuesday, April 21st. Stephens set a $115.00 price objective on shares of Fortinet and gave the stock an “equal weight” rating in a research note on Thursday, May 7th. Wells Fargo & Company reiterated an “underweight” rating and set a $70.00 price objective (up from $64.00) on shares of Fortinet in a research note on Thursday, May 7th. Finally, Sanford C. Bernstein reiterated a “market perform” rating and set a $83.00 price objective on shares of Fortinet in a research note on Friday, February 6th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, twenty-four have given a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $101.83.

About Fortinet

Fortinet, Inc (NASDAQ: FTNT) is a multinational cybersecurity company that develops and delivers integrated security solutions for enterprise, service provider and government customers worldwide. Founded in 2000 and headquartered in Sunnyvale, California, the company was co‑founded by Ken Xie and Michael Xie. Ken Xie serves as chairman and chief executive officer, and the company operates through a global sales, channel and services organization to support customers across the Americas, EMEA and Asia‑Pacific.

Fortinet’s product portfolio centers on network security appliances and software, with its FortiGate next‑generation firewalls and the FortiOS operating system forming a core platform.